# In the matter of Ashok Tiwari Vs.
DBS Bank India Ltd. (DBIL) & Anr. Company Appeal (AT) (Insolvency) No. 418 of 2022

> NCLAT judgment dated 2022-07-04. Citation: TCN-2022-NCLAT-00396. The appeal was filed against the order dated March 25, 2022, passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 4 Jul 2022
- **Citation:** TCN-2022-NCLAT-00396
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ashok-tiwari-vs-dbs-bank-india-ltd-27141f42

## Summary

### Background

The appeal was filed against the order dated March 25, 2022, passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi), which admitted an application under Section 7 filed by DBS Bank India Ltd. Notices were issued by the Adjudicating Authority on March 22, 2022, and served on the appellant on March 7, 2022. March 25, 2022, was the date fixed for the hearing.

## Facts

DBS Bank India Ltd. filed an application under Section 7 of the IBC, which was admitted by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) via an order dated March 25, 2022. Notices were issued by the Adjudicating Authority on March 22, 2022, and served on the appellant on March 7, 2022. The appellant's advocate appeared but was not heard because they had not filed a Vakalatnama. The appellant sought liberty to file an application under Rule 49(2) of the NCLT Rules, 2016, to explain the facts and circumstances. The tribunal entertained the appeal on April 18, 2022, and passed an interim order. The appellant requested to withdraw the appeal to avail remedy under Rule 49(2).

## Issues and analysis

### Issue 1: Whether the Appellant should be granted liberty to file an application under Rule 49(2) of the NCLT …

**Ratio:** Rule 49(2) of the NCLT Rules, 2016, provides a remedy for a respondent against whom an

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**Reasoning:** The tribunal considered the submission of the appellant's counsel and the provisions of

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**Interpretation:** Rule 49(2) is interpreted to provide an opportunity for a respondent to present

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**Application:** The tribunal allowed the appellant to file an application under Rule 49(2) to

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Ashok T…
- **Respondents:** DBS Bank India…

## Timeline

- **2022-03-07 — Notice S…**: Notice issued by the Adjudicating…
- **2022-03-22 — Notice I…**: Notices were issued by the…

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